The black Friday of Bit any coins

Chinese government and the central bank just released a new policy that they don't recognize the virtual currency status. The virtual currency will not be able to circulate.

Watch out, guys. As I said earlier, the virtual currency concept might awesome, but the reality is brute. Because most people involved in this field, they dont care about Bitcoin, they don't care about how good this concept is, what prospect it has. What they care about is profit and only profit. And this will ruin the new concept.

Yes, cause Virtual Currency Market is really small compare to traditional finance market like stock, forex...only several billion fund can handle the direction. So the risk is really high. Not like forex, even you have billions money, the effect is still small.

"We have clearly stipulated that at the present moment all financial institutions and payment institutions cannot develop any business related to bitcoin,"

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This only means that banks cannot offer Bitcoin based solutions and products, but allow everybody else to do so. Fortunately, majority has read the article in the right way and price bounced back a lot.

This only means that banks cannot offer Bitcoin based solutions and products, but allow everybody else to do so. Fortunately, majority has read the article in the right way and price bounced back a lot.

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Yes, but it is a signal. As I said this is not about read right or wrong. This just cause the entire market of virtual currency is small(bitcoin only have 21,000,000, and for now digged out only half, part of them already lose in somewhere like garbage. So less than 10,000,000 coins out there. Even the price is $1,000, the entire market is just reach 10 Billion, easy to been controlled by big institutions)

The Chinese Government can go fuck itself. I'll do whatever the fuck I want with BitCoin.

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Of course, it is your right. I just warn people to be careful their money.

When you in big market like stock, forex. Big institution with large fund has little effect in market, you invested money is relatively safe (of course not absolute). But in small market, some big institutions can totally control the direction which made personal investors' money more risky.

Yes, but it is a signal. As I said this is not about read right or wrong. This just cause the entire market of virtual currency is small(bitcoin only have 21,000,000, and for now digged out only half, part of them already lose in somewhere like garbage. So less than 10,000,000 coins out there. Even the price is $1,000, the entire market is just reach 10 Billion, easy to been controlled by big institutions)

Maybe, but the point isn't here. I can guarantee you that more than 90% people in BTC game, they don't know the bitcoin theory, how it work. But still it is not the point.

Look around the internet world, and even see people here. They talk about new concept brought by bitcoin, they talk about how bitcoin can change and protect our privacy, democracy and so on. Yes, it might be, as I said before, the concept is really awesome, but the realty is brute. Every third-party platform claim these in their sites. But what is the truth? I can also guarantee you that these people (maybe not 100%)(most of them just afraid and want others to take the stick from their hands), these third-party trade platform, they don't give a shi*t about these(all they care about is profit). And this, as I said, is the true reason which will ruin the virtual currency.

Why would it be surprising that people want to profit from trading currency. It has been going on for centuries. Since it is a new currency, it will probably be a long time before it stabalises to some kind of reasonable exchange rate. Bubbles galore in the meantime.

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